The Bahrain-based company, Gulf Petrochemical Industries (GPIC) produces basic petrochemicals including methanol, ammonia and urea. The company was established as an equal partnership between Holding Company for Oil and GasHolding Company for Oil and Gas, Saudi Basic Industries CorporationSaudi Basic Industries Corporation (SABICSABIC) and the Petrochemical Industries CompanyPetrochemical Industries Company.

GPIC uses Bahrain’s natural gas to produce 1,200 tons of ammonia per day, 1,700 tons of urea per day and 1,200 tons of methanol per day. In 2007, it exported 79% of ammonia to India and 47% of its urea exports; other export markets include Australia, Thailand and South Africa.

The company plans to cut down greenhouse gas emissions and improve overall efficiency of its resources by generating additional methanol and urea. It will begin construction on a carbon BHD19.66 million USD52 million dioxide recovery plant in July 2008, to be completed by January 2010.

GPIC increased its profits for the sixth consecutive year, totaling BHD75.9 million (USD201 million) by 2007 compared a 24% increase over the previous year.